Posts: 188Uro: Backed by Millions of Tons of Urea Fertilizer
a. To setup a Distributed Urea Exchange for the efficient international trade of the world’s most important fertilizer for food production: Urea (http://en.wikipedia.org/wiki/Urea [Domain=en.wikipedia.org] )
b. To provide a medium of exchange stabilized via backing to the true and undeniable international value of Urea, the world’s most important fertilizer commodity that is responsible for 50%+ of total world food production.
Q: Why do you need to do a cryptocurrency to make an exchange ?
How do you exchange USD <-> URO ?
At the moment, you can purchase Bitcoins from your local country, then buy Uro on Bittrex and other upcoming exchanges.
In the future, you will be able to collect Uro (instead of Urea straight away) when buying Urea from participating wholesalers (Uro are effectively Urea futures). This way – farmers can easily mitigate the risk of Urea price volatility in the future by holding Uro when the going is good and exchanging it for Urea when they really need to.
Only a few nations officially use USD anyway – so even if we had a USD/URO exchange it would not be that useful for the parts of the world Uro will benefit the most (developing nations with a shortage of fertilizer).
Uro: Long Term Currency Backed by Millions of Tonnes of Urea Fertilizer